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QS 12-11 Indirect: Computing cash from operations LO P2 Required: Use the indirect method to prepare the cash provided or used from operating activities section only of the statement this company. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Changes in current operating assets and liabilities QS 12-12 Computing cash from asset sales LO P3 Furniture costing $67,200 is sold at its book value in 2017. Acquisitions of furniture total $56,000 cas necessary because it is acquired at yeapend. What is the cash inflow related to the sale of furniture? Furniture Beg. bal. End. bal. Accumulated Depreciation Beg bal. End. bal. Cost Accumulated depreciation Book value (Cash received) QS 12-13 Computing financing cash outflows LO P3 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid during 2017? 2. Assume that no additional notes payable are issued in 2017. What cash amount is paid to reduce the notes payable balance in 2017? Retained Earnings Beg bal End bal Notes Payable Endbal QS 12-16B Direct: Computing cash from operations LO P5 Use the above balance sheet and income statement to prepare the cash provided (used) from operating activities section by direct method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities